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Music companies in various industries form strategic alliances and partnerships to enhance resources and capabilities, boosting competitiveness in both domestic and international markets. A strategic alliance is a formal agreement between companies with a common goal. Collaborative relationships may involve shared ownership, known as joint ventures. Joint ventures establish an independent entity jointly owned and controlled by multiple companies, making them more durable but also riskier than other alliances. Many alliances fail to meet expectations, with estimates suggesting up to 60% do not succeed.
